Warren Buffett poured more money into Amazon shares

Berkshire currently owns Amazon shares worth more than $ 1 billion. According to documents submitted to regulatory agencies yesterday (Au...


Berkshire currently owns Amazon shares worth more than $ 1 billion.

According to documents submitted to regulatory agencies yesterday (August 14), Warren Buffett's Berkshire Hathaway Group has increased bets on retail giant Amazon. The number of shares owned by Berkshire at Amazon increased by 11% in the second quarter, making the total investment increase to more than $ 1 billion. This shows Berkshire's perspective on technology companies has changed.

However, the amount that Berkshire poured into Amazon is still far below the investment in Apple: up to more than $ 49 billion by the end of the second quarter, although the number of shares remains unchanged.

Berkshire's greater investment in technology companies is said to have come from Buffett's two deputies, Todd Combs and Ted Weschler. One of them decided to start buying Amazon shares in the first quarter.

The banking industry has continued to be Berkshire's favorite target in recent months. The company raises bets on U.S. Bancorp with a total of 6.9 billion USD as of June 30. In addition, there are two more long-term investments: JPMorgan Chase and Bank of America.

Berkshire also sold some stocks in the second quarter. The company lost 5% of its holdings in Charter Communications, down to $ 2.1 billion by the end of the second quarter, although the stock rose 14% in the second quarter.

Berkshire once announced to own $ 860.6 million of Amazon stock at the end of March. Buffett also admitted that he underestimated the world's largest online retailer and its CEO (CEO). - billionaire Jeff Bezos.

Reference from Bloomberg
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High Tech Brain: Warren Buffett poured more money into Amazon shares
Warren Buffett poured more money into Amazon shares
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